Blackstone to acquire Ancestry.com for $4.7 billion

[yortsed snacilbuper]

Blackstone Group Inc BX.N said on Wednesday it agreed to acquire genealogy provider Ancestry.com Inc from private equity rivals for $4.7 billion, including debt, placing a big bet on family-tree chasing as well as personalized medicine.

Ancestry.com is the world's largest provider of DNA services, allowing customers to trace their genealogy and identify genetic health risks with tests sent to their home.

Blackstone is hoping that more consumers staying at home amid the COVID-19 pandemic will turn to Ancestry.com for its services.

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[Sherman A1]

1. Saw this several weeks ago

Sure happy I didn’t do that DNA thing with them.

[DFW]

3. Same here!

I pretty much know my genetic make-up anyway.

One of my nephews did it a couple of years ago. Half Eastern European and half Shinto Japanese. Exactly what he knew anyway.

[smirkymonkey]

2. My brother warned me about this.

I should have listened.

[Captain Zero]

4. Blackstone will use it for profit and evil, no doubt

Watch them market dna, medical, and ancestry info to insurance companies.

[ProfessorGAC]

5. Company Has $1 Billion In Revenue

So, it will take >4.5 years of revenue to meet the acquisition cost.
That's 20% annualized before subtracting operating costs.
This is not a great investment unless they have other plans for data sales.

[Sherman A1]

6. You can bet that they are looking at

Both the growth they describe and the DNA information as profit centers.

[hatrack]

9. But they would never, EVER sell your genetic information to insurance companies

That would be . . . unethical!

[Sherman A1]

11. That depends upon the user agreement

I suppose.

[hatrack]

13. I would imagine that the user agreement will become whatever Blackstone wants

.

[mitch96]

14. "plans for data sales" that's what I'm thinking.. What are they gonna do with the data? nt

[lark]

7. So, never use this service again.

Blackstone is a fascist and I don't trust that fucker one bit with this information. I got tricked into investing with him before I knew who he was and had to leave the money there for 7 long hateful years. So glad when I could move it out, he's such a scam and charges outrageous fees.

[BannonsLiver]

17. Who is "him", "he" and "that fucker"?

[lark]

19. The founder of Blackstone.

I'm having a brain fart at the moment and can't remember his name, but he's huge in the repug $$ world and is a huge trumper.

[dalton99a]

8. Monetizing users' information

Just like Facebook

[Johnny2X2X]

10. This is horrifying!

One of the most evil corporations on the planet now will own the DNA of millions of people. They'll sell your DNA off to companies looking to hire you or to anyone willing to pay.

And you don't even have to have given a sample for them to have data on you, just a family member giving their DNA is enough for them to have a detailed profile on you. My mom gave a sample, they now know a lot about my health profile.

[fescuerescue]

15. You are thinking of blackwater

[Johnny2X2X]

16. Blackstone is awful too

This is Donald Trump's people who are guilty of all types of malfeasance, including handing over Motel 6 guests to ICE.

[jayfish]

12. Shades of Gattaca? -NT-

[hunter]

18. Ah, these guys...

https://www.greedystephenschwarzman.org/